New York authorities are preparing a lawsuit against the Swiss bank Credit Suisse, Reuters reports , citing unnamed sources. According to the news agency, the prosecutor's office believes that the financial institution misled investors who invested in mortgage-backed securities by not providing them with complete information about the risks associated with such bonds. Damage to investors is estimated at $11.2 billion.

The lawsuit is expected to be filed on Wednesday, November 21. The New York prosecutor's office declined to comment on this information.

In October of this year, the New York prosecutor's office brought a similar claim against another large American bank - JPMorgan Chase & Co. Authorities believe that due to the actions of the financial institution, investors lost about $22.5 billion.

Back in 2010, the US Securities and Exchange Commission (SEC) also became interested in the actions of the largest banks before the crisis of 2007-2009 (which began with the crisis in the real estate market in the United States). The regulator also considered that a number of financial institutions misled investors when selling mortgage-backed securities. On November 17, 2012 it became known that JPMorgan Chase & Co. and Credit Suisse agreed to pay a fine totaling $417 million to the regulator to settle the case. The banks neither confirmed nor denied the accusations.

New York threatens Credit Suisse with $11 billion lawsuit